When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Tuesday, September 4, 2012

U.S. Postal Service reports $5.2-billion loss

A lack of political will and good business judgment now leads us to this--

U.S. Postal Service reports $5.2-billion loss, warns it'll miss benefits payment | Nation/World | Detroit Free Press | freep.com: "The mail agency says it will miss the second $5.6-billion payment due Sept. 30, also for future retiree benefits. At a news briefing, Postmaster General Patrick Donahoe made clear that day-to-day mail delivery will not be disrupted in any way despite the cash crunch. But Donahoe expressed frustration with Congress. . . .The Postal Service originally sought to close low-revenue post offices in rural areas, but after public opposition, it is now moving forward with a new plan to keep 13,000 open with shorter operating hours."

Public opposition?--what's wrong with these people? I don't understand why they don't close the low-revenue (money-losing) post offices and go to 2 or 3 times a week postal delivery. The postal service is a dinosaur--get over it!


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects